THE HONGKONG GOVERNMENT GAZETTE, FEBRUARY 14, 1913.
45. When the Official Receiver is Liquidator of a Com- Style of pany he shall be styled "Official Receiver and Liquidator". Official
SECURITY BY LIQUIDATOR OR SPECIAL MANAGER IN
A WINDING-UP BY THE COURT.
Receiver when he is Liquidator.
46. In the case of a Special Manager or a Liquidator Standing other than the Official Receiver, the following provisions as security to to security shall have effect, namely :—
satisfaction of Official Receiver.
(1.) The security shall be given to such officers or
persous, and in such mammer as the Official Form 25. Receiver may from time to time direct.
(2.) It shall not be necessary that security shall be given in each separate winding-up; but seen- rity may be given either specially in a parti- cular winding-up, or generally, to be available for any winding-up in which the person giving security may be appointed, either as Liquidator or Special Manager,
(3.) The Official Receiver shall fix the amount and nature of such security, and may from time to time, as he thinks fit, either increase or diminish the amount of special or general security which any person has given.
(4.) The certificate of the Official Receiver that a Form 24.
Liquidator or S; ecial Manager has given secu- rity to his satisfaction shall be filed with the Registrar
(5.) The cost of furnishing the required security by a Liquidator or Special Manager, including any premiums which he may pay to a Guarantee Society, shall be borne by him personally, and shall not be charged against the assets of the Company as an expense incurred in the wind- ing-up.
4%.—(1.) If a Liquidator or Special Manager fails to Failure to give the required security within the time stated for that give or keep purpose in the order appointing him, or any extension up security. thereof, the Official Receiver shall report such failure to the Court, who may thereupon rescind the order appointing the Liquidator or Special Manager.
(2.) If a Liquidator or Special Manager fails to keep up his security, the Official Receiver shall report such failure to the Court, who may thereupon remove the Liquidator or Special Manager, and make such order as to costs as the Court shall think fit.
(3) Where an order is made under this Rule rescinding an order for the appointment of or removing a 'Liquidator, the Court may direct that another Liquidator is to be appointed and thereupon the same meetings shall be sum- moned and the same proceedings may be taken as in the case of a first appointment of a Liquidator.
PUBLIC EXAMINATION.
48. A report made by the Official Receiver pursuant to Report of Section 143 of the Ordinauce shall state, in a narrative Official form, the facts and matters which the Official Receiver Receiver to desires to bring to the notice of the Court, and his opinion as required by the said section.
49. The Official Receiver may apply to the Court to fix a day for the consideration of the report, and on such ap- plication the Court shall appoint a day on which the report shall be considered.
be filed.
Appoint- ment of time for
considera- tion of report.
50. The consideration of the report shall be before the considera- Judge of the Court personally in Chambers, and the Official tion of Receiver shall personally, or by Counsel or Solicitor, attend report. the consideration of the report, and give the Court any further information or explanation with reference to the matter stated in the report which the Court may require.
39.